by Kipp Gillian | Dec 29, 2023 | A Quick Word - Kipp Gillian, Employment
2024 The year we hold our breath. The last couple of years we’ve felt like been tumbling down one stair case after another. Hoping, after reaching the bottom of each flight “this has to be the bottom” but it just keeps going and going. Sure, some...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Interra Realty brokered the sale of a three-building, 114-unit multifamily portfolio on the city’s South Side for $9.3 million, or $81,578 per unit. Interra Managing Partner Lucas Fryman represented the portfolio’s buyer and seller, both based in Brooklyn. Two...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Affordable Housing Investment Brokerage Inc. (AHIB) was retained by a court-appointed receiver to identify and secure new owners for portions of Heartland Housing’s Wisconsin portfolio, which included 166 affordable housing units across five properties in...
by Kipp Gillian | Jun 3, 2024 | Affordable Housing
Affordable Housing Investment Brokerage Inc. (AHIB) was retained by a court-appointed receiver to identify and secure new owners for portions of Heartland Housing’s Wisconsin portfolio, which included 166 affordable housing units across five properties in...
by Kipp Gillian | Jun 3, 2024 | Hotel
TopSide Marinas completed the acquisition of two marinas on the shores of Lake Michigan, including Bay Marine of Sturgeon Bay and Bay Marine of Chicago. Previous owners, Matt and Mark Felhofer, will continue to own and operate Bay Marine Yacht Sales, which will...
by Kipp Gillian | Jun 3, 2024 | Retail
JT Magen, a national construction firm, has completed the 150,000-square-foot, two-story retail space for Wayfair at Edens Plaza in the Chicago suburb of Wilmette. Wayfair took over the anchor space formerly occupied by the Carson Pirie Scott department store. JT...
by Kipp Gillian | Jun 3, 2024 | Office
Partner Valuation Advisors, a Chicago-based appraisal firm, has hired McKenna Luke, MAI, who joins to lead the firm’s National Hospitality Practice Group. Luke will be responsible for driving the growth of the firm’s hospitality work related to appraisals, market...
by Kipp Gillian | Jun 3, 2024 | Industrial
B+E, an investment brokerage firm specializing in net lease real estate, announced the sale of a FedEx Ground distribution facility in Portland’s Swan Island Industrial Park for $32.5 million. The cap rate establishes the 2024 benchmark cap rate for FedEx. B+E...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Berkadia closed the sale of Bella Vista, an 88-unit, garden-style multifamily property in Tacoma, Washington, for $18.5 million. Senior Managing Director Kenny Dudunakis, Managing Directors Benjamin Johnson, David Sorensen, and Jay Timpani, and Directors George Pallis...
by Kipp Gillian | Jun 3, 2024 | California Real Estate
Allen Matkins has added a leading real estate transactional team is joining the firm across California. The group includes partners Dean Pappas, Jennifer Sung and Shaunt Kodaverdian, senior counsel Julia Lee and associate Brenn Coyle. All are joining from...
by Kipp Gillian | Jun 3, 2024 | Office
Newmark completed the sale of 7083 Hollywood Blvd., a Class A value-add office investment property strategically at the intersection of Hollywood and La Brea in Los Angeles. The property sold for $25.5 million. Kevin Shannon, co-head, U.S. capital markets and vice...
by Kipp Gillian | Jun 3, 2024 | California Real Estate
Newmark completed the sale of 7083 Hollywood Blvd., a Class A value-add office investment property strategically at the intersection of Hollywood and La Brea in Los Angeles. The property sold for $25.5 million. Kevin Shannon, co-head, U.S. capital markets and vice...
by Kipp Gillian | Jun 3, 2024 | California Real Estate
Landsea Homes Corporation said Monday it had closed on 44 homesites for a new community called Mason in Anaheim. Sales are anticipated to start later this year. On the corner of Lincoln Avenue and Laxore Street, Mason will include three-story townhomes with four...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Landsea Homes Corporation said Monday it had closed on 44 homesites for a new community called Mason in Anaheim. Sales are anticipated to start later this year. On the corner of Lincoln Avenue and Laxore Street, Mason will include three-story townhomes with four...
by Kipp Gillian | Jun 3, 2024 | California Real Estate
Marcus & Millichap closed the sale of 5018-22 Saratoga Ave., a six-unit apartment property located in San Diego. The asset sold for $3,000,000, or $500,000 per unit. “The deal reflects consistent performance of well-located assets in a dry commercial market where...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Marcus & Millichap closed the sale of 5018-22 Saratoga Ave., a six-unit apartment property located in San Diego. The asset sold for $3,000,000, or $500,000 per unit. “The deal reflects consistent performance of well-located assets in a dry commercial market where...
by Kipp Gillian | Jun 3, 2024 | Office
CBRE and Pembroke have secured 55,913 square feet in new leases at 140 New Montgomery St. in San Francisco. New tenants include super{set}, Calendly and Heidrick & Struggles. Additionally, Bloomberg, 140 New Montgomery’s largest tenant, has renewed its tenancy. ...
by Kipp Gillian | Jun 3, 2024 | California Real Estate
CBRE and Pembroke have secured 55,913 square feet in new leases at 140 New Montgomery St. in San Francisco. New tenants include super{set}, Calendly and Heidrick & Struggles. Additionally, Bloomberg, 140 New Montgomery’s largest tenant, has renewed its tenancy. ...
by Kipp Gillian | Jun 3, 2024 | California Real Estate
The Los Angeles-based Colliers Mortgage Structured Finance Group arranged $24.4 million in construction financing for Kingsley Apartments, a planned 136-unit, 100% affordable property in Los Angeles’ Koreatown submarket. Leveraging the city’s new Executive Directive 1...
by Kipp Gillian | Jun 3, 2024 | Multifamily
The Los Angeles-based Colliers Mortgage Structured Finance Group arranged $24.4 million in construction financing for Kingsley Apartments, a planned 136-unit, 100% affordable property in Los Angeles’ Koreatown submarket. Leveraging the city’s new Executive Directive 1...
by Kipp Gillian | Jun 3, 2024 | Affordable Housing
The Los Angeles-based Colliers Mortgage Structured Finance Group arranged $24.4 million in construction financing for Kingsley Apartments, a planned 136-unit, 100% affordable property in Los Angeles’ Koreatown submarket. Leveraging the city’s new Executive Directive 1...
by Kipp Gillian | Jun 3, 2024 | Office
GFP Real Estate, LLC has arranged two lease extensions for 4,390 square feet at 80 Eighth Ave. in Chelsea. The Office & Professional Employees International Union, representing over 100,000 members, extended its 3,176-square-foot lease on the second floor...
by Kipp Gillian | Jun 3, 2024 | Hotel
Randalls closed its Clear Lake store in 2020, and now it looks like a tenant will be able to absorb the space. Center owner Partners Real Estate has signed Elite Pickleball to fill the void left by Randalls. Partners purchased the nearly 100,000-square-foot Bay Pointe...
by Kipp Gillian | Jun 3, 2024 | Office
Kayne Anderson, a Florida-based firm, acquired 147 Milk St. in Boston’s financial district for $36 million from German investor KanAm Grund, who bought it in 2021 for $48 million. The 52,000-square-foot building, anchored by Atrius Health, also houses...
by Kipp Gillian | Jun 3, 2024 | Industrial
Amazon’s North Andover warehouse, opened earlier this year, cost over $600 million to build, significantly exceeding the initial $400 million estimate, Boston Business Journal reported. The five-story, 3.8-million-square-foot distribution center, Amazon’s...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Intracorp has received a green light from the Austin City Council to build Leland South Congress, a 270-unit condominium complex. The zoning decision grants the developer the right to knock down several standing commercial properties to build the 90-foot-tall...
by Kipp Gillian | Jun 3, 2024 | Retail
Vestar received a final okay to move ahead with the $125 million Verrado Marketplace in Buckeye. The largest shopping center developed by Vestar since the 2000s, the retail center will be anchored by Target, Safeway and Harkins BackLot Buckeye’s planning...
by Kipp Gillian | Jun 3, 2024 | Industrial
CBRE has secured $44 million in refinancing for Queen Creek Commerce Center, a two-building complex at 555 East Queen Creek Road in Chandler, Ariz. A team led by Bruce Francis secured the 10-year loan with 5.47% interest rates and a 65% loan to value on behalf of...
by Kipp Gillian | Jun 3, 2024 | Multifamily
Ninety-one percent of adult Gen Zers say housing affordability is the most important issue when considering who to vote for in the upcoming presidential election, according to a survey conducted for Redfin. Gen Zers were more likely to rate affordable mortgages or...
by Kipp Gillian | Jun 3, 2024 | Affordable Housing
Ninety-one percent of adult Gen Zers say housing affordability is the most important issue when considering who to vote for in the upcoming presidential election, according to a survey conducted for Redfin. Gen Zers were more likely to rate affordable mortgages or...
by Kipp Gillian | Jun 3, 2024 | Multifamily
JLL Capital Markets has completed the sale of Banyan Kingsland Heights, a 97-home build-to-rent (BTR) community in Katy, Texas. JLL represented Banyan Residential, the seller, in the sale. Completed in 2021, Banyan Kingsland Heights is a rental community consisting...
by Kipp Gillian | Jun 3, 2024 | Industrial
DRA Advisors has purchased an eight-building, 846,261-square-foot infill industrial portfolio in Plano, Texas. New York Life provided $79 million in acquisition financing. Commercial Edge reports Link Logistics sold the Metroplex properties in a transaction arranged...
by Kipp Gillian | Jun 3, 2024 | Industrial
EQT Exeter paid $36.25 million ($125/square foot) for an office/industrial portfolio within Satellite Place at Commerce Ave in Duluth, Georgia. The portfolio, spanning 289,921 square feet, is a collection of four flex industrial /R&D/office buildings. The offering...
by Kipp Gillian | Jun 3, 2024 | Industrial
Terreno Realty Corp. delivered a $43.8 million industrial building in Hialeah. The 186,000-square-foot facility, known as Countyline Park Phase IV Building 40, already has four tenants ready to move in. The distribution center is at 3741 W. 112th Place, which provides...
by Kipp Gillian | Jun 3, 2024 | Office
A 242,000-square-foot office building in St. Petersburg is slated for a multi-million dollar renovation. Feldman Equities and Tower Realty Partners jointly own the building. City Center on Second Avenue South was built in 1985 and has received previous touchups in...
by Kipp Gillian | Jun 3, 2024 | Hotel
The Catawba Nation will break ground on a new $700 million casino complex, Two Kings Casino Resort, in Kings Mountain, NC. The first phase includes an “introductory casino” with 1,350 electronic gaming machines, 12 table games, a 40-seat restaurant and a...
by Kipp Gillian | May 31, 2024 | Industrial
Ship Essential, a Brooklyn-based third-party fulfillment company, has opened its first Southern California location in Downtown Los Angeles. The new facility encompasses 36,400 square feet at 2535 E. 12th St. at The Box Yard DTLA and will cater to retailers in the LA...
by Kipp Gillian | May 31, 2024 | California Real Estate
Ship Essential, a Brooklyn-based third-party fulfillment company, has opened its first Southern California location in Downtown Los Angeles. The new facility encompasses 36,400 square feet at 2535 E. 12th St. at The Box Yard DTLA and will cater to retailers in the LA...
by Kipp Gillian | May 31, 2024 | California Real Estate
Mill Creek Residential, a Florida-based developer, owner-operator and investment manager specializing in rental housing across the U.S., launched preleasing at Modera Pomona, a newly developed apartment community in Los Angeles County. First move-ins are slated for...
by Kipp Gillian | May 31, 2024 | Multifamily
Mill Creek Residential, a Florida-based developer, owner-operator and investment manager specializing in rental housing across the U.S., launched preleasing at Modera Pomona, a newly developed apartment community in Los Angeles County. First move-ins are slated for...
by Kipp Gillian | May 31, 2024 | Office
MicroVention, a neuroendovascular medical device company, acquired 45 Enterprise, a 242,706-square-foot high-rise office building in Aliso Viejo, for $42.25 million, or $183 per square foot. CBRE’s Carol Trapani and Allison Kelly represented MicroVention. Newmark’s...
by Kipp Gillian | May 31, 2024 | California Real Estate
MicroVention, a neuroendovascular medical device company, acquired 45 Enterprise, a 242,706-square-foot high-rise office building in Aliso Viejo, for $42.25 million, or $183 per square foot. CBRE’s Carol Trapani and Allison Kelly represented MicroVention. Newmark’s...
by Kipp Gillian | May 31, 2024 | California Real Estate
JLL Capital Markets arranged a $2.53-million refinancing for The Madison Apartments, a 12-unit, newly renovated apartment community located at 5074-5084 Madison Ave. in San Diego. Working on behalf of the borrower, Pace Properties, JLL placed the three-year,...
by Kipp Gillian | May 31, 2024 | Industrial
A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corporation, has acquired a 64,340-square-foot, single-tenant light industrial...
by Kipp Gillian | May 31, 2024 | Affordable Housing
A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corporation, has acquired a 64,340-square-foot, single-tenant light industrial...
by Kipp Gillian | May 31, 2024 | Affordable Housing
Northern Trust, a financial services company headquartered in Chicago, announced it has appointed Chandra Dhandapani to its Board of Directors. Dhandapani is currently a senior advisor at CBRE, where she previously served as Chief Executive Officer of the firm’s...
by Kipp Gillian | May 31, 2024 | Retail
Optima, Inc., an integrated real estate firm, announced Reform Studios will open at Optima Signature, a 57-story luxury apartment tower comprising 490 apartments and 58,000 square feet of commercial space in Chicago’s Streeterville neighborhood. Reform Studios joins...
by Kipp Gillian | May 31, 2024 | Affordable Housing
Optima, Inc., an integrated real estate firm, announced Reform Studios will open at Optima Signature, a 57-story luxury apartment tower comprising 490 apartments and 58,000 square feet of commercial space in Chicago’s Streeterville neighborhood. Reform Studios joins...
by Kipp Gillian | May 31, 2024 | Industrial
Alaska Airlines has unveiled plans for a new state-of-the-art training facility in Renton. Alaska purchased the 19-acre property at Longacres for $85.75 million, which includes a 600,000-square-foot facility that Boeing built to house an aviation training facility. ...
by Kipp Gillian | May 31, 2024 | Affordable Housing
The Low Income Housing Institute (LIHI) is purchasing the Aventine Apartments, a six-story, 68-unit building located in Bellevue’s downtown neighborhood at 211 112th Ave NE. The 74,152-square-foot property includes studios and one- and two-bedroom apartments. The...
by Kipp Gillian | May 31, 2024 | Industrial
Principle Construction has completed the tenant improvement for Apres Pastry & Bakery within a mixed-use, residential and retail building located in downtown Lake Zurich, Illinois. Apres Bakery occupies the last remaining space in the building that Principle...
